The debt-ridden firm had posted a standalone net loss of Rs 319.68 crore in the same period previous fiscal, Amtek Auto said in a BSE filing.

The company said exceptional items of Rs 504.91 crore primarily includes losses arising from corrective action taken for inventory.

Total income from operations during the quarter under review stood at Rs 446.84 crore as against Rs 576.49 crore, down 13.44 per cent.

Amtek Auto said during the quarter it completed an evaluation of all its inventories owing to decline in effective operations due to working capital stress with an objective to identify inventories that are aged and may not be usable and also the cost of carrying such inventories.

"Based on the results of such assessments, the management took corrective actions such as sale of aged and non-usable inventory, determine alternate usage of certain inventories, and has accordingly recorded any loss arising," it added.

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In 2018, automobile demand remained robust despite the slowdown overcast in the last three months of year. All segments reported strong double-digit growth in the calendar year ending December 31 except passenger vehicles which reported a growth of 5 per cent. Three-wheelers sales grew fastest followed by commercial vehicles, two-wheelers, and passenger vehicles. The overall automobile sales crossed 26.7 million units for the first time.

In 2018, automobile demand remained robust despite the slowdown overcast in the last three months of year. All segments reported strong double-digit growth in the calendar year ending December 31 except passenger vehicles which reported a growth of 5 per cent. Three-wheelers sales grew fastest followed by commercial vehicles, two-wheelers, and passenger vehicles. The overall automobile sales crossed 26.7 million units for the first time.